If RBC Capital Analyst Mike Abramsky is right, it may be time to go out and buy some Research in Motion stock (RIMM). He believes that RIM could sell as many as 5 million BlackBerry Pearl 2 devices in twelve months.
That’s 250% more than the BlackBerry Pearl, a.k.a, the fastest selling BlackBerry today, which sold 2 million units in its first 12 months.
Abramsky raised his target price on Research in Motion from $83 to $110. His earnings per share estimate for fiscal 2008 moved up 12 cents to $2.11 and up 32 cents in fiscal 09 to $3.23.
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That makes sense in that the iPhone has opened many people’s eyes to the notion of getting a smartphone as their primary phone and not just because the office is issuing them one